Town of View Royal 2014 Annual Report

TABLE OF CONTENTS

COMMUNITY PROFILE .............................................................................................................. 2 MESSAGE FROM THE MAYOR ............................................................................................... 5 MAYOR & COUNCIL .................................................................................................................. 6 ORGANIZATIONAL CHART ..................................................................................................... 8 MISSION, VISION & VALUES .................................................................................................. 9 SUMMARY OF SERVICES & OPERATIONS ........................................................................ 11 2014 MUNICIPAL HIGHLIGHTS ............................................................................................. 13 ADMINISTRATION DEPARTMENT ..................................................................................... 13 ENGINEERING & PARKS DEPARTMENT ......................................................................... 14 FINANCE DEPARTMENT ..................................................................................................... 15 DEVELOPMENT SERVICES DEPARTMENT ..................................................................... 16 PROTECTIVE SERVICES DEPARTMENT .......................................................................... 17 2014 MUNICIPAL GOALS & OBJECTIVES .......................................................................... 18 ENSURING FINANCIAL SUSTAINABILITY ........................................................................... 19 RESPONDING TO INCREASING EXPECTATIONS ............................................................. 21 BUILDING COMMUNITY IDENTITY ...................................................................................... 23 CRITICAL PROJECTS & INITIATIVES ................................................................................... 25 LOOKING AHEAD .................................................................................................................... 26 FINANCIAL INFORMATION ................................................................................................... 29

COMMUNITY PROFILE

A gateway between Victoria’s urban core and the growing West Shore municipalities, View Royal is a vibrant community. This year’s Annual Report outlines the Town’s achievements and major projects for 2014. It shows the progress on our 2014 municipal goals and objectives, highlights financial reporting, and gives insight into plans for the future.

• INCORPORATED: DECEMBER 5, 1988
• 10,714: POPULATION*
• 1,436 HECTARES: LAND AREA
• 28KM: BIKE LANES
• 70 MUNICIPAL PARKS & 733 HECTARES: PARKLAND
• $52M: BUILDING PERMITS
• 26KM: TRAILS
• 231: BUSINESS LICENSES

*est. as per 2014 BC Stats

View Royal is divided into eight distinct precincts based on such factors as topography, major transportation corridors, natural environment and the age of housing stock. These precincts are:

• Craigflower
• Harbour
• Helmcken
• Hospital
• Thetis
• Burnside
• Atkins
• Wilfert

The municipality encompasses McKenzie, Pike, Prior and Thetis Lakes and portions of Esquimalt Harbour and Portage Inlet and is situated adjacent to the established jurisdictions of the Township of Esquimalt, the District of Saanich and the City of Colwood.

MESSAGE FROM THE MAYOR

On behalf of View Royal Council and staff, I am pleased to share this Annual Report.

This report highlights the key accomplishments and initiatives of our Town in 2014. Through the work of Council, staff, advisory committees and others, we continue to work towards implementing View Royal's strategic plan. This was a very busy year in the Town with several major projects underway and completed.

Highlights included:

• Construction continued on the new Fire Hall throughout the year with a target completion date of early 2015;
• The new Craigflower Bridge was opened on May 2, 2014. This was a joint project with the District of Saanich, and the end result is a much improved link between our communities for vehicles, pedestrians, and cyclists;
• Work on the E&N Rail Trail began in the fall with a completion date targeted for June 2015. This trail is an amazing amenity not only for View but for the entire region;
• A new playground was opened in Portage Park in December and is being well used by local and visiting children alike;
• The Eagle Creek development in View Royal continued to progress with an anticipated opening date of December 2015;
• In keeping with our commitment to safety and security, the Town added one full time RCMP officer to its contingent; and
• An updated Parks & Trails Map was printed and distributed to every home in the Town.

I hope you will take the time to browse these pages and review our achievements for 2014. View Royal Council and staff are committed to keeping our values, setting innovative standards, and continuing to build and sustain our Town as one of the best places to live and call home.

David Screech

MAYOR & COUNCIL

The 2014 Mayor and Council of the Town of View Royal were elected for a three-year term in the municipal election held in November 2011. Each member is appointed to Town and regional committees.

Mayor Graham Hill (December 2, 2002 - December 2, 2014)

* Finance & Administration - Chair * CRD Board/Committee of the Whole * CRD Hospital Board * CRD Core Area Liquid Waste Management * CRD Planning, Transportation & Protective Services * Greater Victoria Harbour Authority * Island Corridor Foundation * Te'Mexw Treaty Advisory Committee * Tourism Victoria * Municipal Insurance Association * Victoria Chamber of Commerce

Mayor David Screech (December 2, 2014 - present)

• Finance & Administration - Chair
• CRD Arts Committee - Chair
• CRD Board/Committee of the Whole
• CRD Hospital Board
• CRD Regional Parks
• CRD Core Area Liquid Waste Management
• CRD Planning, Transportation & Protective Services
• CRD Transportation Select
• CRD West Side Wastewater
• CRD Housing Corporation
• Greater Victoria Harbour Authority
• Te’Mexw Treaty Advisory Committee
• View Royal Reading Centre

Councillor Ron Mattson (December 6, 2011 - present)

• Public Works & Transportation - Chair
• CRD Housing Trust Fund Commission
• Esquimalt Harbour Advisory Committee
• Victoria Family Court & Youth Justice Committee
• West Shore Parks & Recreation Society

Councillor Heidi Rast (December 2, 2008 - present)

• Protective Services & Community Services - Chair
• CRD Climate Action Steering Committee
• Capital Region Emergency Service Telecommunications (CREST)
• Community Policing
• Police Building Liaison Committee

Councillor John Rogers (December 2, 1996 - present)

• Parks, Recreation & Environment - Chair
• CRD Water Supply Commission
• Friends of Cole Island
• Greater Victoria Public Library
• Juan de Fuca Water Distribution Commission

Councillor Aaron Weisgerber (December 2, 2014 - present)

• Planning & Development - Chair
• Joint School District/Municipal Committee
• Parents Advisory Committee
• Westshore Chamber of Commerce

2014 TOWN OF VIEW ROYAL ORGANIZATIONAL CHART

• Mayor & Council
  • Chief Administrative Officer
    • Executive Assistant
    • RCMP Inspector
    • Director of Corporate Administration
      • Deputy Clerk/Confidential Secretary
      • Corporate Services Clerk/Receptionist
      • Archivist/Corporate Records Assistant
    • Director of Engineering
      • Superintendent of Engineering
      • Engineering Technologist
      • Engineering Clerk
      • Parks Supervisor
        • Parks Workers (x2)
    • Director of Protective Services
      • Training Officer/Firefighter
      • Fire Prevention Officer/Firefighter
      • Emergency Program Officer/Firefighter
      • Pre-planning/Firefighter
      • Maintenance/Firefighter
      • Fire Department Clerk
      • Building Inspector
      • Bylaw Officer
    • Director of Finance
      • Senior Accountant
      • Accounting Clerk 3
      • Accounting Clerk 2
      • Accounting Clerk 1
    • Director of Development Services
      • Senior Planner
      • Planner
      • Development Services & Licensing Clerk

MISSION, VISION & VALUES

MISSION - WHY WE EXIST

To build a resilient, vibrant community that fosters and balances social, environmental and economic well-being.

VISION - THE FUTURE WE STRIVE TO CREATE

Liveable View Royal - simply the best place to call home.

VALUES - OUR GUIDEPOSTS

The Town of View Royal pursues good community through a corporate culture that is:

• Accountable,
• Collaborative,
• Efficient, and
• Respectful,
• Innovative,
• Effective.
• Ethical,
• Proactive,

COMMITMENT TO ORGANIZATIONAL EXCELLENCE

The Town of View Royal is committed to providing the best possible local government for our residents and business community. This commitment drives constant improvement, with particular emphasis on:

• providing strong, strategic policy-based governance,
• demonstrating collaborative leadership and effective shared decision-making within the community, with our regional partners, including First Nations,
• nurturing productive working relationships at the legislative and executive level,
• pursuing excellence founded on core values, approved plans, policies and our commitment to innovation,
• decision-making processes to be transparent and responsive,
• integrating strategic planning, business planning, budgeting and performance management systems,
• embracing evidence-based best practices for professionalism,
• enhancing customer service and related communications capacity, and
• positioning sustainability as the foundation of our municipal culture.

SUMMARY OF SERVICES & OPERATIONS

The TOWN OF VIEW ROYAL is responsible for the provision of a wide variety of local services and programs. These include:

• Transportation network (e.g. roads, bridges, street cleaning, sidewalks)*
• Stormwater management
• Garbage/household food waste collection
• Sanitary sewer collection system
• Parks, recreation and cultural facilities
• West Shore Royal Canadian Mounted Police (RCMP)
• Fire protection and inspection
• Emergency preparedness planning
• Land use planning
• Building permits
• Business licensing
• Bylaw establishment and enforcement
• Economic development
• Heritage and revitalization

*excludes Admirals Road, Six Mile Road and the Trans Canada Highway (Highway 1) which are controlled by the Ministry of Transportation & Infrastructure.

Town Services provided by OTHER organizations include:

• School system (Provincial Government and Local School Boards)
• Social and health programs (Provincial Government)
• Hospital care system (Provincial Government)
• Real property assessments (B.C. Assessment)
• Library collection and distribution system (Greater Victoria Public Library; Town is a part owner of the Downtown Branch)
• View Royal Reading Centre (Town provides partial support through a grant-in-aid)
• Planning and the management of public transit (Victoria Regional Transit System)

Town Services provided by the CAPITAL REGIONAL DISTRICT:

• Animal control
• Sewer system management
• Water management
• Recycling

The Town is represented on the following BOARDS AND COMMITTEES, which provide a variety of services to the residents of View Royal:

• Capital Regional District
• Capital Regional District Hospital
• Capital Regional District Housing Trust Fund Commission
• West Shore Parks & Recreation Society
• Greater Victoria Public Library
• Community Policing

2014 MUNICIPAL HIGHLIGHTS

ADMINISTRATION DEPARTMENT

• Staff spent much of the latter half of 2014 working on the November 15, 2014 local government election. Logistics required coordination for nomination package preparation, vote counting machine acquisition, venue booking, ballot printing, and poll clerk training. The advance preparations resulted in a successful, open and fair voting process where 2,136 votes were cast — a 28.1% voter turnout — over the three voting days (thirty-six hours total). This voter turnout is slightly higher than the 27.9% from the 2011 municipal election.
• View Royal successfully had seventeen parcels of parkland that were previously shown as Provincial property vested into the name of the Town.
• Administration coordinated the recruitment of a full complement of parks staff for the seasonal summer parks work program, successfully backfilled the Senior Accountant position (due to a one-year leave) and filled the Accounting Clerk position due to an internal transfer.
• 2014 saw a real estate company engaged to assist with the disposition of the former Fire Hall site (280 Island Highway).
• Staff acquired a small road dedication (119.8m²) at the corner of Island Highway and Helmcken Road from the Province without a land purchase cost. This land had been “leftover” from survey work many years before.
• Staff responded to 30 Freedom of Information requests with a majority of those requests being for building/property information. 2014 saw an increase in requests for strata building plans due to a new requirement for depreciation reports.
• The Business Continuity Plan was approved by Council in October. This project — a joint initiative of the Protective Services and Administration Departments — was identified in the strategic plan to ensure a safe and protected community. All of the Town’s Departments participated in populating its content. This living document was tailored to meet View Royal’s operational needs and will be invaluable in the event of an emergency that could impact Town Hall.

VIEW ROYAL ARCHIVES

The Archives held an accessioning event on October 18, 2014 where the volunteers worked together on photo identification for some of the collection’s more mysterious photos. New information was discovered and recorded with the help of the volunteer team.

ENGINEERING & PARKS DEPARTMENT

• Began the View Royal portion of the E&N Rail Trail; to be completed in summer of 2015.
• Completed the Watkiss Way Pedestrian Crossing, including installation of a pedestrian crosswalk, lighting, curbs and signage to improve the safety of pedestrians in this neighbourhood.
• A new pump station was installed at Heddle Avenue to retrofit and replace lift pumps and all integral infrastructure.
• Parks staff assisted a group of volunteers to complete the Portage Park trail improvements.
• Construction of the Craigflower Bridge was completed and opened to vehicle traffic on May 2, 2014. An opening celebration of the bridge was held in late April 2014. The Bridge was honoured by the Canadian Institute of Steel Construction with an award for Outstanding Steel Structure.
• A new playground was installed in Portage Park, including new equipment and pathways.
• Chilco Trail development continued with installation of trails and a viewing platform in Edwards Park.
• Improvements at the Welland Legacy Park included installation of irrigation, pathways, a composting toilet, shed and covered area as well as a new connection to the Galloping Goose Trail.
• New trails and a viewing platform were installed at Mellor Park.
• After a trial gardening season in 2013, the View Royal Community Garden successfully opened at View Royal Park in the spring of 2014. The Garden consists of 30 garden plots featuring accessible raised beds and a garden shed. An expansion of the garden has been proposed for the 2015 gardening season.

NEW PORTAGE PARK PLAYGROUND

The new playground equipment installed in Portage Park gets two thumbs up! Located in the large grass area just off the Island Highway entrance, the new playground includes a structure for 2-5 year olds, another for 5-12 year olds, as well as swings and other equipment.

CRAIGFLOWER BRIDGE REPLACEMENT PROJECT COMPLETED

All went well with final construction on one of the Town’s largest capital projects to replace the 80 year old Craigflower Bridge. A joint project with the District of Saanich, the replacement of the bridge now includes three vehicle lanes, bike lanes, widened sidewalks and enhanced lighting. Residents and businesses alike will now benefit from an improved, and safer, significant transportation route.

The project also included several upgrades to Admirals Road, between Island Highway and Gorge Road, such as the construction of new sidewalks, bike lanes and safety features, stormwater treatment facilities and rain gardens, as well as the replacement of sanitary sewer lines, storm drains and water mains and a complete road reconstruction.

A well-attended pre-opening celebration ceremony was hosted by View Royal on the bridge on April 26, with representatives from the federal, provincial and municipal governments, as well as Songhees and Esquimalt First Nations, in attendance.

The completed project cost just over $15.5 million, and was made possible thanks to nearly $14 million through the federal Gas Tax Fund, over $1.2 million from the Town of View Royal and $320,000 from the Insurance Corporation of British Columbia.

The bridge was opened to pedestrians and cyclists in early April and to vehicular traffic on Friday, May 2, 2014.

FINANCE DEPARTMENT

• Staff began the development of an Information Technology strategic plan. A consultant was hired and worked with various department staff to understand current challenges and future demands for Information Technology, including an objective for reduced paper.
• Staff implemented an Electronic Funds Transfer (EFT) process for frequent, low dollar vendors. Testing, documentation and the new program was rolled out to vendors with payments under $25,000. Paying these vendors through EFT rather than cheques saves the Town time and money.

DEVELOPMENT SERVICES DEPARTMENT

• Staff published a new Parks & Trails Guide highlighting walking trails, water access, view points, playgrounds and sports facilities.
• Restoration of the lime kiln on Hart Road continues. A grant from Council is supporting the work being done by masonry experts and others. Vegetation on site was cleared and it is anticipated that workshops will be planned for Spring 2015 on the site. The majority of the tree roots were removed and the base of the kiln stabilized.
• The adoption of Zoning Bylaw No. 900 represented a key implementation action from the Official Community Plan project that was completed in 2011. This project saw broad consultation with the community and strategic changes to the regulations for secondary suites, home based business and the implementation of floor space ratio as the measuring tool for density.
• Eagle Creek rezoning and Development Permit applications were concluded to facilitate development of this key site.
• 2014 represented the first major reporting year for greenhouse gas emissions from municipal operations. This means that for 2013 the Town was carbon neutral in its operations and is meeting its obligations under the Climate Action Charter. The Town also achieved carbon neutral status for 2014 and had to purchase few offsets than in 2013.
• There were 231 business licenses issued in 2014 (107 commercial).
• The old firehall site was rezoned in preparation for sale. The future use of the site will be residential.
• Town staff presented at three of the LGLA sessions for newly elected officials on the topic of planning basics. Staff developed the presentation and PowerPoint that were delivered at all of the sessions across the province.
• Planning staff continued to be deeply engaged in the review of the Regional Growth Strategy in 2014. Staff also participated in climate action work with the CRD and Bicycle and Pedestrian way finding projects.

CHILCO TRAILS PHASE 1 & 2 COMPLETE

Chilco Trails phases 1 and 2 were constructed, including a viewing platform at the top. This trail provides a pedestrian linkage between View Royal and Langford and a stunning view of the Esquimalt Harbour. Future trail segments will provide a great recreation and alternative transportation opportunity for residents.

NEW PUBLIC SAFETY BUILDING NEARING COMPLETION

Construction continued on the new Public Safety Building, which began in August 2013. Progress included the installation of civil, mechanical and electrical infrastructure, roofing, building envelope and interior/exterior finishes.

Staff worked to ensure both contract compliance as well as a quality product at the end of the project.

The centrally located fire hall includes drive-through apparatus bays, teaching and training areas and volunteer space for the Firefighters' Association. The building will also serve as an administrative base and Emergency Operations Centre.

PROTECTIVE SERVICES DEPARTMENT

• As a result of the service review of the Development Services Department, the Bylaw Enforcement and Building Inspection Services were transferred to the Protective Services Department. As a result, the Bylaw Enforcement Officer and Building Inspector were relocated from Town Hall to the Fire Hall.
• Plans are in place for the physical move from the old fire hall building to the new Public Safety Building. A transition plan is in place to ensure a seamless switchover and to maintain uninterrupted service.
• The construction value of building permits issued totaled $52,011,850.
• A ShakeOut BC exercise was held on October 16, 2014 with Town staff fully participating. The ShakeOut event included an extended Emergency Operations Centre (EOC) exercise. The exercise included activation of the EOC, and a series of plausible emergency scenarios to test organizational response including ham radio participants. The event identifies opportunities for learning and overall improvement of the EOC operation.
• Town Hall staff completed training as part of the roll out of the Business Continuity Plan.

2014 MUNICIPAL GOALS & OBJECTIVES

The 2012 - 2014 Strategic Plan provides an opportunity to step back, look at the bigger picture and identify a few key areas or opportunities that require special attention or emphasis. Three Strategic Priorities have been identified for 2014:

• Ensuring FINANCIAL SUSTAINABILITY,
• Responding to INCREASING EXPECTATIONS, and
• Building COMMUNITY IDENTITY.

The reality and importance of ongoing work related to the core and fiduciary responsibilities of the Town — work that requires significant investment of time and dollars over and above the flow of regular duties — is also identified:

• Critical PROJECTS AND INITIATIVES.

ENSURING FINANCIAL SUSTAINABILITY

STRATEGIC PRIORITY:

• Systematically consider ongoing and related costs as major decisions are made and/or projects are approved;
• Position View Royal as a development-friendly Town, committed to development opportunities identified in the OCP and efficient approval processes;
• Ongoing commitment to providing full value for money;
• Nurture entrepreneurial approach to revenue generation; and
• Be a strong voice at the regional level to ensure that affordability is a major factor in cost-shared initiatives.

DESIRED OUTCOMES:

• Confidence in the fiscal health and financial sustainability of the Town of View Royal;
• Diversified revenue base;
• Predictable property tax and user fee increases; and
• Optimized corporate efficiencies.

2014 INITIATIVES:

RESPONDING TO INCREASING EXPECTATIONS

STRATEGIC PRIORITY:

• Develop an innovation culture that regularly generates suggestions for service improvement;
• Communicate service levels, standards and related costs for each municipal function;
• Commit to a business model that aligns both services and support functions with the defined levels of service;
• Manage implications of governance processes and decisions within the capacity of available resources.

DESIRED OUTCOMES:

• A clear service model defining level of service and resource requirements for each municipal function;
• Community satisfaction within the parameters established in the service model;
• High public confidence in municipal governance.

2014 INITIATIVES:

BUILDING COMMUNITY IDENTITY

STRATEGIC PRIORITY:

• Look for opportunities to expand residential and business volunteerism;
• Support community-driven events that bring View Royal residents together;
• Commit to on-going development of parks and trails;
• Build alliances with community service organizations;
• On-going commitment to recognize our heritage.

DESIRED OUTCOMES:

• Build alliances with community service organizations;
• Strong identity - a unique Town with its own character and common purpose;
• Clearly defined, well serviced neighbourhoods with local service nodes and gathering places;
• Increased community connectivity and engagement in community events;
• A strong and growing volunteer corps, investing in View Royal.

2014 INITIATIVES:

CRITICAL PROJECTS & INITIATIVES

STRATEGIC PRIORITY:

The final strategic priority addresses projects that will consume significant financial and staff resources. Each are priorities on their own merits, reflecting:

• Commitments made in Council-approved plans and reports;
• Projects that are already underway;
• Legislated or regulatory requirements;
• Fiduciary obligations of Town Council to provide for social, environmental and economic well-being of the community.

2014 INITIATIVES:

LOOKING AHEAD: 2015 - 2018

A new Strategic Plan has been created for 2015 - 2018. Four new themes have been identified with each theme containing a series of priorities for the Town. Specific projects and initiatives — with timelines and resource implications — are attributed to each priority. These align with current priorities and activities already underway pursuant to the previous strategic plan.

ENHANCE LIVEABILITY IN VIEW ROYAL

• proceed with parks improvements in accordance with Parks Master Plan;
• ensure key bylaws reflect community needs;
• increase community connectivity and engagement.

FINANCIAL SUSTAINABILITY AND SERVICE EXCELLENCE

• ensure we are providing quality services to our residents on a cost effective basis;
• focus on a Capital Asset Management program.

COMMUNITY AND ECONOMIC GROWTH

• explore creative ways to encourage redevelopment of existing lands;
• pursue investment in a high quality public realm within the Town;
• support opportunities for local services and employment.

MAINTAIN STRONG RELATIONSHIPS WITH OUR NEIGHBOURS

• work with others to identify cost effective sewage solutions;
• participate in discussion about improving regional government;
• upgrade regional. Transportation system and infrastructure to meet growing needs.

FINANCIAL INFORMATION

Fiscal Year Ended December 31, 2014

FINANCIAL INFORMATION

TABLE OF CONTENTS

Statement of Financial Information Approval ............................................................................ 33

Consolidated Financial Statements .......................................................................................... 34 Managements Responsibility for the Consolidated Financial Statements .......................... 36 Independent Auditors' Report ............................................................................................... 37 Consolidated Statement of Financial Position..................................................................... 38 Consolidated Statement of Operations ............................................................................... 39 Consolidated Statement of Change in Net Financial Assets ............................................... 40 Consolidated Statement of Cash Flows .............................................................................. 41 Notes to the Consolidated Financial Statements................................................................ 42

Schedule of Payments for Goods and Services ........................................................................ 64 Statement of Remuneration and Expenses .............................................................................. 66 Statement of Guarantee and Indemnity Agreements ................................................................ 67 Statement of Severance Agreements ....................................................................................... 68 Statement of Permissive Tax Exemptions ................................................................................ 69 Statement of Development Cost Charges ................................................................................ 70 5 Year Assessment and Property Tax Information .................................................................... 71 Long Term Debt and Capital Lease Obligations ....................................................................... 73 Principal Taxpayers ................................................................................................................... 74 Strategic Community Investment Funds Plan and Progress Report .......................................... 75

Statement of Financial Information Approval

For the year ended December 31, 2014

The undersigned, as authorized by the Financial Information Regulation, Schedule 1, subsection 9(2), approves all the statements and schedules included in this Statement of Financial Information, produced under the Financial Information Act.

Kim Anema, CPA, CGA Chief Administrative Officer July 7, 2015

David Screech, Mayor July 7, 2015

Prepared pursuant to the Financial Information Regulation, Schedule 1, subsection 9

Consolidated Financial Statements of TOWN OF VIEW ROYAL

Year ended December 31, 2014

MANAGEMENT'S RESPONSIBILITY FOR THE CONSOLIDATED FINANCIAL STATEMENTS

The accompanying consolidated financial statements of the Town of View Royal (the "Town") are the responsibility of Town's management and have been prepared in compliance with legislation, and in accordance with Canadian public sector accounting standards for local governments as recommended by the Public Sector Accounting Board of The Canadian Institute of Chartered Accountants. A summary of the significant accounting policies are described in the notes to the consolidated financial statements. The preparation of financial statements necessarily involves the use of estimates based on management's judgment, particularly when transactions affecting the current accounting period cannot be finalized with certainty until future periods.

The Town's management maintains a system of internal controls designed to provide reasonable assurance that assets are safeguarded, transactions are properly authorized and recorded in compliance with legislative and regulatory requirements, and reliable financial information is available on a timely basis for preparation of the consolidated financial statements. These systems are monitored and evaluated by management.

Mayor and Council meet with management and the external auditors to review the consolidated financial statements and discuss any significant financial reporting or internal control matters prior to their approval of the consolidated financial statements.

The consolidated financial statements have been audited by Hayes Stewart Little & Company Chartered Accountants, independent external auditors appointed by the Town. The accompanying Independent Auditors' Report outlines their responsibilities, the scope of their examination and their opinion on the Town's consolidated financial statements. Their opinion is based upon an examination conducted in accordance with Canadian generally accepted auditing standards, performing such tests and other procedures as they consider necessary to obtain reasonable assurance that the consolidated financial statements are free of material misstatement and present fairly the financial position and results of the Town in accordance with Canadian public sector accounting standards.

Chief Administrative Officer

Director of Finance

INDEPENDENT AUDITOR'S REPORT

To the Mayor and members of Council of THE TOWN OF VIEW ROYAL

Report on Consolidated Financial Statements We have audited the accompanying consolidated financial statements of the Town of View Royal, which comprise the consolidated statement of financial position as at December 31, 2014, and the consolidated statement of operations, change in net financial assets, and cash flows for the year then ended, and a summary of significant accounting policies and other explanatory information.

Management's Responsibility for the Consolidated Financial Statements Management is responsible for the preparation and fair presentation of these consolidated financial statements in accordance with Canadian public sector accounting standards and for such internal control as management determines is necessary to enable the preparation of consolidated financial statements that are free from material misstatement, whether due to fraud or error.

Auditor's Responsibility Our responsibility is to express an opinion on these consolidated financial statements based on our audit. We conducted our audit in accordance with Canadian generally accepted auditing standards. Those standards require that we comply with ethical requirements and plan and perform the audit to obtain reasonable assurance about whether the consolidated financial statements are free of material misstatement, whether due to fraud or error.

An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in the consolidated financial statements. The procedures selected depend on the auditor's judgment, including the assessment of the risks of material misstatement of the consolidated financial statements, whether due to fraud or error. In making those risk assessments, the auditor considers internal control relevant to the entity's preparation and fair presentation of the consolidated financial statements in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the entity's internal control. An audit also includes evaluating the appropriateness of accounting policies used and the reasonableness of accounting estimates made by management, as well as evaluation of the overall presentation of the consolidated financial statements.

We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinion.

Opinion In our opinion, the consolidated financial statements present fairly, in all material respects, the consolidated financial position of The Town of View Royal as at December 31, 2014, and its consolidated results of operations, consolidated changes in net financial assets and its consolidated cash flows for the year then ended in accordance with Canadian public sector accounting standards.

Hayes Stewart Little & Co. Chartered Accountants Victoria, BC May 5, 2015

TOWN OF VIEW ROYAL

Consolidated Statement of Financial Position

December 31, 2014, with comparative information for 2013

Approved by: J. Beauchamp, CPA, CGA Director of Finance

TOWN OF VIEW ROYAL

Consolidated Statement of Operations

Year ended December 31, 2014, with comparative information for 2013

TOWN OF VIEW ROYAL

Consolidated Statement of Change in Net Financial Assets

Year ended December 31, 2014, with comparative information for 2013

TOWN OF VIEW ROYAL

Consolidated Statement of Cash Flows

Year ended December 31, 2014, with comparative information for 2013

TOWN OF VIEW ROYAL

Notes to Consolidated Financial Statements

Year ended December 31, 2014

Town of View Royal (the "Town") is a municipality in the Province of British Columbia and operates under the provisions of the Local Government Act and the Community Charter of British Columbia. The Town's principal activities include the provision of local government services to residents of the incorporated area.

1. Significant accounting policies:

The consolidated financial statements of the Town are prepared by management in accordance with Canadian public sector accounting principles for governments as recommended by the Public Sector Accounting Board ("PSAB") of the Canadian Institute of Chartered Accountants. Significant accounting policies adopted by the Town are as follows:

(a) Reporting entity: The consolidated financial statements reflect the combination of all the assets, liabilities, revenues, expenses, and changes in fund balances and in financial position of the Town. The consolidated financial statements of the Town include the Town's proportionate interest in West Shore Parks and Recreation Society ("West Shore"), an organization jointly controlled by the Town. The Town does not administer any trust activities on behalf of external parties other than the disbursement of casino revenues to other municipal partners as described in note 7.

(b) Basis of accounting: The Town follows the accrual method of accounting for revenues and expenses. Revenues are normally recognized in the year in which they are earned and measurable. Expenses are recognized as they are incurred and measurable as a result of receipt of goods or services and/or the creation of a legal obligation to pay. Expenses paid in the current period and attributable to a future period are recorded as prepaid.

(c) Revenue recognition: (i) Taxation revenues are recognized at the time of issuing the property tax notices for the fiscal year. (ii) Sale of services and user fee revenues are recognized when the service or product is rendered by the Town and the amounts are received or become receivable. (iii) Grant revenues are recognized when the funding becomes receivable. (iv) Revenue unearned in the current period is recorded as deferred revenue. (v) Government transfers are recognized in the consolidated financial statements as revenues in the period in which events giving rise to the transfer occur, providing the transfers are authorized, any eligibility criteria have been met, and reasonable estimates of the amounts can be made. Transfers received for which expenses are not yet incurred are included in deferred revenue.

(d) Deferred revenue: Deferred revenue includes grants, contributions and other amounts received from third parties pursuant to legislation, regulation and agreement which may only be used in certain programs, in the completion of specific work, or for the purchase of tangible capital assets. In addition, certain user charges and fees are collected for which the related services have yet to be performed. Revenue is recognized in the period when the related expenses are incurred, services performed, or the tangible capital assets are acquired.

Development cost charges are amounts which are restricted by government legislation or agreement with external parties. When qualifying expenses are incurred development cost charges are recognized as revenue in amounts which equal the associated expenses.

Casino revenues are required to be spent on eligible expenses as defined in the agreement with the provincial government. The gross revenue received is deferred and recorded as revenue when the related expenses are incurred.

(e) Cash and temporary investments: Cash and temporary investments include investments in the Municipal Finance Authority of British Columbia ("MFA") Money Market, Intermediate, and Short-Term Bond that are recorded at cost plus earnings reinvested in the funds, which at December 31, 2014 would approximate market value. These temporary investments consist of cash on deposit in the MFA investment funds that are highly liquid, readily convertible to cash, and are subject to an insignificant risk of change in value.

Investment income is reported as revenue in the period earned. When required by the funding government or related Act, investment income earned on deferred revenue is added to the investment and forms part of the deferred revenue balance.

(f) Deposits: Receipts restricted by third parties are deferred and reported as deposits and are refundable under certain circumstances. Deposits that are prepayments are recognized as revenue when qualifying expenditures are incurred.

(g) Temporary and long-term debt: Temporary and long-term debt is recorded net of related actuarial adjustments and principal repayments.

(h) Employee future benefits: The Town and its employees make contributions to the Municipal Pension Plan. The Town's contributions are expensed as incurred and are included within the Statement of Operations.

Sick leave and other retirement benefits are also available to the Town's employees. The costs of these benefits are actuarially determined based on service and best estimates of retirement ages and expected future salary and wage increases. The obligations under these benefit plans are accrued based on projected benefits as the employees render services necessary to earn the future benefits.

(i) Non-financial assets: Non-financial assets are not available to discharge existing liabilities and are held for use in the provision of services. They have useful lives extending beyond the current year and are not intended for sale in the ordinary course of operations. The change in non-financial assets during the year, together with the excess of revenues over expenses, provides the change in net financial assets for the year.

(i) Tangible capital assets: Tangible capital assets are recorded at cost which includes amounts that are directly attributable to acquisition, construction, development or betterment of the asset. The cost, less residual value, of the tangible capital assets, excluding land, are amortized on a straight line basis over their estimated useful lives as follows:

Amortization is calculated monthly, including in the year of acquisition and disposal. Assets under construction are not amortized until the asset is available for productive use.

Tangible capital assets are written down when conditions indicate that they no longer contribute to the Town's ability to provide goods and services, or when the value of future economic benefits associated with the asset are less than the book value of the asset.

(ii) Contributions of tangible capital assets: Tangible capital assets received as contributions are recorded at their fair value at the date of receipt and also are recorded as revenue.

(iii) Works of art, and historical treasures: The Town manages and controls various works of art and non-operational historical cultural assets including buildings, artifacts, paintings and sculptures located at Town sites and public display areas. These assets are not recorded as tangible capital assets and are not amortized due to the subjectivity of their value.

(iv) Interest capitalization: The Town does not capitalize interest costs associated with the acquisition or construction of a tangible capital asset.

(v) Leased tangible capital assets: Leases which transfer substantially all of the benefits and risks incidental to ownership of property are accounted for as leased tangible capital assets. All other leases are accounted for as operating leases and the related payments are charged to expenses as incurred.

(vi) Inventory of supplies: Inventory of supplies held for consumption is recorded at the lower of cost and replacement cost.

(j) Use of estimates: The preparation of financial statements in conformity with Canadian public sector accounting standards requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, and disclosure of contingent assets and liabilities at the date of the financial statements, and the reported amounts of revenues and expenses during the period. Significant areas requiring the use of management estimates relate to the determination of accrued sick benefits liability, collectability of accounts receivable, amortization of capital assets, deferred charges and provisions for contingencies. Actual results could differ from those estimates. Adjustments, if any, will be reflected in operations in the period of settlement.

2. Prior period figures:

During the year, it was determined that an asset built in a prior period should have been funded by Development Cost Charges. An adjustment has been recorded to decrease deferred revenue, and increase annual surplus and accumulated surplus at December 31, 2013 in the amount of $58,628.

3. Financial instruments:

The Town's financial instruments consist of cash and temporary investments, accounts receivable, accounts payable and accrued liabilities, deposits, and temporary and long-term debt. The carrying amount of these financial instruments approximates their fair value because they are short-term in nature or because they bear interest at market rates.

Unless otherwise noted, it is management's opinion that the Town is not exposed to significant interest or credit risks arising from these financial instruments.

4. Future accounting changes:

(a) PS 3260 – Liability for contaminated sites: This section establishes the recognition, measurement and disclosure requirements for reporting liabilities associated with remediation of contaminated sites. The section does not deal with tangible capital asset retirement obligations, liabilities associated with the disposal or sale of a tangible capital asset and acquisition/ betterment costs for tangible capital assets that are less than the future economic benefits. This section applies to fiscal years beginning on or after April 1, 2014, with early adoption permitted.

(b) PS 3450 – Financial instruments: This section establishes standards for recognizing and measuring financial assets, financial liabilities and non-financial derivatives. This section applies to fiscal years beginning on or after April 1, 2016, with early adoption permitted.

(c) PS 2601 – Foreign currency translation: This section revises and replaces the existing Section PS 2600 Foreign currency translation. This section applies to fiscal years beginning on or after April 1, 2016, with early adoption permitted.

(d) PS 1201 – Financial statement presentation: This section revises and replaces the existing Section PS 1200 Financial statement presentation. This section applies to fiscal years beginning on or after April 1, 2016, with early adoption permitted.

5. Cash and temporary investments:

Temporary investments consist of short-term investments in the MFA money market, intermediate, and short-term bond funds. The market value is equal to the carrying value. Temporary investments have yields ranging from 1.09% to 3.18%.

Included in cash and temporary investments are the following restricted amounts:

The Town has an operating line of credit with the Toronto Dominion Bank an authorized amount of $1,000,000, bearing interest at bank prime rate plus 0.25% per annum. At December 31, 2014 the balance outstanding was $nil.

6. Assets held for sale:

Total assets held for sale of the year was $100,000 (2013-$nil). Assets held for sale consists of a parcel of land that is no longer in use and has been placed for sale. The asset has been reclassified from a tangible capital asset to an asset held for sale.

7. Deferred revenue:

The Town has entered into an agreement with the Province whereby 10% of the net gaming revenue from community casinos is to be paid to local governments. The Town has also entered into a casino revenue sharing agreement with neighbouring municipalities whereby 55% of the revenue received from the Province in respect of the gaming facility situated within the Town is to be disbursed to these governments. The disbursement of the 55% is netted against the revenue in the financial statements for the Town and is disclosed below as a disbursement to other municipal partners.

8. Temporary and long-term debt:

(a) Temporary debt (interim financing) of $1,950,000 was issued in 2013 by the MFA related to the construction of the new Public Safety Building. The temporary debt was due on demand and had an interest rate of 1.72%. Interest was calculated daily and compounded and paid monthly. In 2014 this debt was repaid and replaced with MFA long-term debt issue number 127.

(b) Included in long-term debt is the Town's proportionate share of a West Shore five year fixed rate term loan for $10,571 (2013 - $23,796).

(c) Debt outstanding:

(d) Debenture debt: The loan agreements with the Capital Regional District and the MFA provide that if, at any time, the scheduled payments provided for in the agreements are not sufficient to meet the MFA's obligations in respect of such borrowings, the resulting deficiency becomes a liability of the Town.

The Town issues its debt instruments through the MFA. Debt is issued on a sinking fund basis, where the MFA invests the Town's sinking fund principal payments so that the payments, plus investment income, will equal the original outstanding debt amount at the end of the repayment period. Actuarial adjustments on debt represent the repayment and/or forgiveness of debt by the MFA using surplus investment income generated by the principal repayments.

Principal payments on long-term debt for the next five years are as follows:

(e) Interest expense: Total interest expense during the year was $180,408 (2013 - $133,093).

9. Employee future benefit obligations:

Employee benefit obligations represent accrued benefits as follows:

Accrued vacation is the amount of unused vacation entitlement carried forward into the next year. Accrued sick leave is the estimated liability for sick leave for all employees. Sick leave entitlements can only be used while employed by the Town and are not paid out upon retirement or termination of employment. The accrued sick leave cost was estimated by an actuarial valuation completed effective for December 31, 2014.

Information about liabilities for accrued sick leave is as follows:

The accrued benefit liability is included as part of employee benefit obligations on the Statement of Financial Position. The actuarial loss is amortized over a period equal to the employees' average remaining service lifetime of 13 years.

The significant actuarial assumptions adopted in measuring the Town's accrued benefit obligations are as follows:

Municipal Pension Plan:

The Town and its employees contribute to the Municipal Pension Plan (the Plan), a jointly trusteed pension plan. The board of trustees, representing plan members and employers, is responsible for overseeing the management of the Plan, including investment of the assets and administration of benefits. The Plan is a multi-employer contributory pension plan. Basic pension benefits provided are based on a formula. The plan has about 182,000 active members and approximately 75,000 retired members. Active members include approximately 36,000 contributors from local government and 31 contributors from the Town.

The most recent actuarial valuation as at December 31, 2012 indicated a $1,370 million funding deficit for basic pension benefits. The next valuation will be as at December 31, 2015 with results available in 2016.

Employers participating in the Plan record their pension expense as the amount of employer contributions made during the fiscal year (defined contribution pension plan accounting). This is because the Plan records accrued liabilities and accrued assets for the Plan in aggregate with the result that there is no consistent and reliable basis for allocating the obligation, assets and cost to the individual employers participating in the Plan.

The Town paid $225,481 (2013 - $196,852) for employer contributions while Town employees contributed $198,092 (2013 - $177,090) to the plan in fiscal 2014.

10. Tangible capital assets:

(a) Assets under construction and completed assets not yet in service: Assets under construction totaling $7,124,202 (2013 - $8,189,003) have not been amortized. Assets completed but not yet in service totaling $453,335 (2013 - $453,335) have not been amortized. Amortization of these assets will commence when the asset is put into service.

(b) Contributed tangible capital assets: Contributed tangible capital assets have been recognized at fair market value at the date of contribution. The value of contributed capital assets received during the year is $90,394 (2013 - $336,703).

(c) Tangible capital assets disclosed at nominal values: Where an estimate of fair value could not be made, the tangible capital asset has been recognized at a nominal value.

(d) Write-down of tangible capital assets: The write-down of tangible capital assets during the year was $nil (2013 - $1,119).

11. Accumulated surplus:

Accumulated surplus consists of individual fund surplus and reserve funds as follows:

12. Net taxes available for municipal purposes:

The Town is required to collect taxes on behalf of and transfer these amounts to the government agencies noted below. Taxes levied over or under the amounts requisitioned are recorded as accounts payable or receivable.

13. Commitments and contingencies:

(a) The Capital Regional District ("CRD") debt, under provisions of the Local Government Act, is a direct, joint and several liability of the CRD and each member municipality within the CRD, including the Town.

(b) The Town is a shareholder and member of the Capital Region Emergency Service Telecommunications ("CREST") Incorporated which provides centralized emergency communications, and related public safety information services to municipalities, regional districts, the provincial and federal governments and their agencies, and emergency service organizations throughout the Greater Victoria region and the Gulf Islands. Members' obligations to share in funding ongoing operations and any additional costs relating to capital assets are to be contributed pursuant to a Members' Agreement.

(c) The Town is a defendant in various lawsuits. The Town records an accrual in respect of legal claims that are likely to be successful and for which a liability amount is reasonably determinable. The remaining claims, should they be successful as a result of litigation, will be recorded when a liability is likely and determinable. The Town is self-insured through membership in the Municipal Insurance Association of British Columbia. Under this program, member municipalities are to share jointly for general liability claims against any member in excess of $10,000. Should the Association pay out claims in excess of premiums received, it is possible that the Town, along with the other participants, would be required to contribute towards the deficit.

A lawsuit has been initiated against the Town alleging significant financial losses by the claimant as a result of alleged fraudulent misrepresentation by representatives of the Town. The Town has denied these claims and, represented by insurers, is vigorously defending the lawsuit. As the final outcome of the legal action and the potential financial impact to the Town is not determinable, the Town has not recorded any provision for this matter in the financial statements as at December 31, 2014.

A delay claim has been initiated against the Town alleging significant financial losses by the claimant as a result of alleged construction delays caused by the Town. No litigation has commenced regarding this matter. The Town has denied this claim and is vigorously defending the claim. As a final outcome of the claim and the potential financial impact to the Town is not determinable, the Town has not recorded any provision for this matter in the financial statements as at December 31, 2014.

(d) Under borrowing arrangements with the MFA, the Town is required to lodge security by means of demand notes and interest-bearing cash deposits based on the amount of the borrowing. As a condition of these borrowings, a portion of the debenture proceeds is withheld by the MFA as a debt reserve fund. These deposits are included in the Town's financial assets as restricted cash and are held by the MFA as security against the possibility of debt repayment default. If the debt is repaid without default, the deposits are refunded to the Town. At December 31, 2014 there were contingent demand notes of $204,201 (2013 - $76,334). The Town has included a liability of $54,900 in the financial statements.

(e) The Town entered into a long-term contract with the Federal Government and the Royal Canadian Mounted Police for the provision of police services. Under the terms of this contract, the Town is responsible for 70% of policing costs. The 2015 estimated cost of this contract is $1,563,544. RCMP members and the federal government are currently in legal proceedings regarding pay raises for 2009 and 2010 that were retracted for RCMP members. As the final outcome of the legal action and the potential financial impact to the Town is not determinable, the Town has not recorded any provision for this matter in the financial statements as at December 31, 2014.

14. Financial plan data:

The budget data presented in these consolidated financial statements is based upon the 2014 operating and capital budgets approved by Council on May 13, 2014, adjusted to reflect West Shore proportionately consolidated budgeted revenues and expenses. The chart below reconciles the approved budget to the budget figures reported in these consolidated financial statements.

The annual surplus above represents the planned results of operations prior to budgeted transfers between reserve funds, debt repayments and capital expenditures. Interdepartmental revenues and expenses, having no net impact on the annual surplus, have been removed from the financial plan balances to conform to the presentation required.

15. West Shore Parks and Recreation Society:

(a) Capital asset transfer: The lands and facilities comprising the Juan de Fuca Recreation Centre are owned by the member municipalities (the "Municipalities") in their proportionate share, as specified in the Co-Owners' Agreement. The Town became party to the agreement effective January 1, 2007. Future improvements are allocated among the partners as per the cost sharing formula in effect each year for each service or facility, as outlined in a Members' Agreement. For 2014, the Town's share of improvements purchased by the Society on its behalf is $nil (2013 - $13,983).

Because the cost sharing formula in the Members' Agreement produces different cost shares for the members from year-to-year, there is a gain or loss on the opening fund balances. In 2014, the Town recorded a gain of $79,035 (2013 - a gain of $199,750).

The repayment of the long-term debt associated with the transferred assets will continue to be a regional function, in accordance with the terms of an Agreement to Transfer between the CRD, the Municipalities and the Society. The debt payments are charged to the Municipalities as part of the CRD's annual requisition. The maturity dates of the various borrowings ranged through 2014.

The participating Municipalities have each become members in the Society, which was incorporated to provide parks, recreation and community services to the Municipalities under contract. Under terms of an Operating, Maintenance and Management Agreement, the Society is responsible to equip, maintain, manage and operate the facilities located at the recreation centre.

(b) Consolidation: Financial results and budget for the Society are consolidated into the Town's financial statements proportionately, based on the cost sharing formula outlined in the Members' Agreement. In 2014, the Town's proportion for consolidation purposes was 14.285% (2013 - 14.125%). Condensed financial information for the Society is as follows:

16. Segmented information:

The Town is a diversified municipal organization that provides a wide range of services to its citizens. Town services are provided by departments and their activities reported separately. Certain functions that have been separately disclosed in the segmented information, along with the services they provide, are as follows:

General government The general government operations provide the functions of corporate administration, finance, human resources and legislative services and any other functions categorized as non-departmental.

Protective services Protective Services includes the View Royal Fire Rescue which is a paid / composite fire department responsible to provide fire suppression service, fire inspections of public buildings, and training and education of volunteer firemen as well as the citizens of View Royal. In addition, it also includes policing provided by the RCMP, emergency planning, animal control and the maintenance and enforcement of building and construction bylaws as well as all other municipal bylaws. Fire protection services are provided to the Songhees and Esquimalt First Nation communities under contract.

Transportation services Transportation services is comprised of a wide variety of services such as the annual maintenance of all municipally owned roads and bridges, sidewalks, street signage, boulevards, bus shelters, street lighting and traffic signals. Transportation also includes the design, inspection, and maintenance of the storm drain collection systems.

Environmental health services Environmental health services are comprised of the following services:

• Solid Waste Management – providing the service of solid waste collection and disposal to the citizens of View Royal.
• Liquid Waste Management (Sewer) Services – providing the removal of the Town's waste water (sewage).

Planning and development services Environmental development services include all land use, planning and zoning issues in the Town.

Recreation and cultural services Recreation and culture is comprised of services meant to improve the health and development of the citizens of View Royal. This segment includes maintenance and development of all parks and green space within the Town as well as the Town's financial contribution to the services provided by the Greater Victoria Public Library and the Town's portion of West Shore Parks and Recreation Society.

Statement of segmented information The following statement provides additional financial information for the foregoing functions. Certain allocation methodologies have been employed in the preparation of the segmented financial information. Taxation is apportioned based on budgeted taxation revenue as presented in the consolidated financial plan. The accounting policies used in these segments are consistent with those followed in the preparation of the financial statements as disclosed in Note 1.

17. Comparative figures:

Certain comparative figures have been reclassified to conform to the current year financial statement presentation.

Town of View Royal

Schedule of Payments Made for the Provision of Goods and Services (Unaudited)

Year ended December 31, 2014

Grants exceeding $25,000

• This statement shows actual payments during the year, while the Statement of Revenue and Expenditure reports expenses during the year. Differences include capital, wages and benefits, West Shore, and payments under the Casino Revenue Sharing Agreement.

Town of View Royal

Statement of Remuneration and Expenses (Unaudited)

Year ended December 31, 2014

Elected Officials

Employees

Reconciliation of Remuneration

Prepared under the Financial Information Regulation, Schedule 1, section 6(2), (3), (4), (5) and (6)

Town of View Royal

Statement of Guarantee and Indemnity Agreements

Year ended December 31, 2014

The Town of View Royal has not provided any guarantees or indemnities under the Guarantee and Indemnities Regulation.

Prepared under the Financial Information Regulation, Schedule 1, subsection 5(3) and 5(4)

Town of View Royal

Statement of Severance Agreements

Year ended December 31, 2014

There were no severance agreements under which payments commenced between the Town of View Royal and an employee during the fiscal year 2014.

Prepared under the Financial Information Regulation, Schedule 1, subsection 6(8)

Town of View Royal

Statement of Permissive Tax Exemptions (Unaudited)

Year ended December 31, 2014

Town of View Royal

Statement of Development Cost Charges (DCC)

Year ended December 31, 2014

Statistical Information (Unaudited)

Taxable Assessments of Land and Improvements - Final Roll Totals

Property Tax Rates - Municipal ($ per $1,000 assessment)

Municipal Property Tax Billings by Property Class

• includes a Risk to Roll adjustment of $23,726 for the year 2010

2014 Assessments by Property Class

2014 Municipal Property Tax by Property Class

Long Term Debt and Capital Lease Obligations (Unaudited)

Principal Corporate Taxpayers (Unaudited)

Strategic Community Investment Funds Plan and Progress Report

(1) SCI Funds received or anticipated

(2) SCI Funds intended use, performance targets and progress made:

Small Community or Regional District Portion of the SCI Funds

Traffic Fine Revenue Sharing Portion of the SCI Funds

Report Date: July 14, 2015